Time Inc. managers ask for buyout volunteers

Editors at Time Inc. publications asked employees to take voluntary buyouts this week, following last month's announcement that the publisher plans to trim about 600 jobs. More than 90 of the cuts will come from the company's consumer marketing division, while the group including Sports Illustrated will also be hard hit by reductions, reportsThe New York Times. The European editions of Time, People, and Fortune could also be greatly affected, says Gawker. All Things Digital has a roundup of staff memos here.

In other depressing media financial news, Tribune Co. reported a loss of $121.6 million for the third quarter, while Sirius XM Radio disclosed a $4.9 billion Q3 loss, stemming from a large post-merger impairment charge. Also, The New York Times Co. increased its value declines for its New England newspapers, including The Boston Globe, due to a drop in advertising revenue.